Boater Insurance. If you’re a boater, then I’m sure there’s a good chance that you know about uninsured boater coverage. If you don’t, though, I’m assuming that you have a car and a boat. Both of those things cost money. So, when an accident happens, you hope that you won’t be responsible for all of the damage and repair costs because you were not insured. If that happens, then you’ll be sued, possibly losing everything that you have thus far invested in your vehicle and in your boat.
This is why it’s so important to have the proper insurance coverage, and luckily, it’s easy to get the proper coverage if you just search for it. Basically, there are two types of accidents that are covered under this type of insurance policy. There are also risks that can be included with boating, such as collisions and towing injuries.
Collisions and Towing: When you have a collision or tow against something that is not your fault, this is covered under the “uninsured boater” provisions. If you cause an accident, whether it’s with your car or with another vehicle, the other party will be covered because they are “uninsured” for your damages. However, you must have at least the minimum insurance required by your state, which is liability auto insurance. It covers both cars and boats, but it doesn’t cover personal injury damages or medical costs.
Bodily Injury and Property Damage: This is the major part of this type of policy. Basically, these will cover any physical harm that you inflict on another person, vehicle, or item. Some examples of items to include fences, poles, garbage cans, and even animals. Bodily injury can be punished with a fine, and property damage can be punished with the purchase of a new vehicle, repairs to personal property, and funeral expenses. Bodily injury and property damage coverage will also cover you for legal fees in the event of an accident.
Underinsured/Uninsured Motorist Coverage: In the boating industry, “underinsured” and “uninsured” are used to describe the same thing. Basically, it’s when an insurer pays less than the amount the insured is supposed to pay in the event of an accident. This varies according to the state. Most states require a minimum amount of liability insurance, which is also required in most places for anyone driving a vehicle. However, “uninsured” means that the insurer will only compensate for the difference in the total amount of money owed as well as the actual cash value of the car or boat. This is considered a better option than uninsured motorist coverage, as you won’t necessarily be covered for all of the damage or injuries incurred, but it will help out if something does happen.
Liability Insurance: Just as with auto insurance, there are several types of liability insurance that you can purchase for boating. Generally, these policies will provide you protection in the event you damage another person’s property or someone’s personal property while on the water. The policy may also include medical payments, which means if you’re injured in a boating accident, you won’t have to worry about paying medical expenses straight from your pocket. This is often the recommended type of insurance for people who rarely get into accidents and who only use their boats for small amounts of time each year.